Influence is one of the most powerful things a company can have. This quality can help businesses organically drive consumers' behavior, leading to greater customer loyalty and better bottom lines. But influence has to be earned, and one of the primary ways businesses can compel individuals to make desired choices is by implementing an engaging loyalty rewards program.
According to Inc. Magazine, one tactic companies are increasingly leveraging to influence consumer behavior is introducing a loyalty program that offers rewards in the form of status, often termed gamification. The source explained that people are often motivated to perform certain actions when the potential outcome is achieving a higher rank in comparison to others, and this boosts customer retention by keeping individuals coming back to a business to level up.
Gamification is useful for fueling purchases and other desired actions because it rewards customers at an intrinsic level, MarketingProfs noted. For example, the source suggested that a grocery store could design a game similar to golf, in which customers search for clues around the store for discounted items. Depending on how many of the featured products they find and purchase, they get a score, such as an eagle, birdie or bogey. The news provider pointed out that this promotion would be effective because customers benefit from the excitement of participating in a unique game while earning "a handicap that applies an incremental discount to their purchases." They aren't just getting savings – they're also receiving a fun experience.
Fast Company emphasized that today's consumers are more technology-savvy, and another critical way marketers must seek to influence behavior is by reaching them through their desired channels. Those businesses that make personalized offers through digital and mobile channels will be able to truly engage with consumers who are living in an increasingly connected world. Individuals want to develop relationships with brands that value the same things they do and move at a similar pace. They will perform the desired behaviors if they feel valued, respected and understood.
Companies need influence on their side to succeed. By implementing innovative strategies that emphasize the latest loyalty strategies and technologies, businesses can improve the ROI associated with their marketing solutions.